Russel Metals Inc. (TSE:RUS) to Post Q2 2024 Earnings of $0.90 Per Share, National Bank Financial Forecasts

Russel Metals Inc. (TSE:RUS) – Equities researchers at National Bank Financial cut their Q2 2024 earnings per share (EPS) estimates for Russel Metals in a research note issued to investors on Thursday, May 2nd. National Bank Financial analyst M. Sytchev now forecasts that the company will earn $0.90 per share for the quarter, down from their previous forecast of $0.94. The consensus estimate for Russel Metals’ current full-year earnings is $3.59 per share. National Bank Financial also issued estimates for Russel Metals’ Q3 2024 earnings at $0.95 EPS and FY2024 earnings at $3.60 EPS.

A number of other equities analysts have also recently issued reports on RUS. Scotiabank cut their price target on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating on the stock in a report on Wednesday, April 17th. BMO Capital Markets increased their price target on Russel Metals from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Stifel Nicolaus cut their price target on Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Raymond James cut their price target on Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, TD Securities cut their price target on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Russel Metals currently has an average rating of “Moderate Buy” and a consensus target price of C$47.64.

Russel Metals Price Performance

Russel Metals stock opened at C$38.52 on Monday. The stock has a market capitalization of C$2.31 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.59 and a beta of 1.54. Russel Metals has a 52-week low of C$33.38 and a 52-week high of C$47.39. The stock’s 50 day moving average price is C$42.63 and its two-hundred day moving average price is C$41.91. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14.

Russel Metals (TSE:RUS) last announced its earnings results on Thursday, February 8th. The company reported C$0.78 EPS for the quarter, beating the consensus estimate of C$0.72 by C$0.06. Russel Metals had a return on equity of 16.67% and a net margin of 5.92%. The business had revenue of C$1.02 billion for the quarter, compared to analysts’ expectations of C$1.06 billion.

Russel Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th will be given a dividend of $0.42 per share. This is an increase from Russel Metals’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Wednesday, May 29th. Russel Metals’s dividend payout ratio is currently 36.95%.

Russel Metals Company Profile

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.